How do you fund a bitcoin account? I understand there are people you can buy them from, but where do they get them or how do they generate them or move external money into the bitcoin system? This very well maybe a dumb question. Just trying to grasp the concept.

How do you fund a bitcoin account? I understand there are people you can buy them from, but where do they get them or how do they generate them or move external money into the bitcoin system? This very well maybe a dumb question. Just trying to grasp the concept.

When you contribute your computing power to the Bitcoin network, you have the opportunity to win a batch of bitcoins every ten minutes or so. These bitcoins essentially come out of thin air, but people value them because they exist in a finite amount and you can easily trade them for stuff.

Ok so basically you're limited by the amount of bitcoins which are generated and that's the only way to create a bitcoin? I know I can buy them from 3rd parties, but they had to get them somewhere. That was most likely trading with people who generated them?

Ok so basically you're limited by the amount of bitcoins which are generated and that's the only way to create a bitcoin? I know I can buy them from 3rd parties, but they had to get them somewhere. That was most likely trading with people who generated them?

Thanks guys.

Whomever you bought bitcoins from either generated them or bought them from someone else. I can't say the probability for either way, but you can use the Block Explorer to see if the person sending you bitcoins generated them himself or not.